Bank Of Montreal $BMO Shares Acquired by Jones Financial Companies Lllp

Key Points

• Jones Financial Companies Lllp increased its stake in Bank of Montreal by 121.7% in Q1, now owning 17,363 shares valued at approximately $1.66 million.
• Bank of Montreal recently increased its quarterly dividend to $1.63, resulting in a 5.1% yield, with the ex-dividend date set for October 30th.
• The bank reported earnings of $2.33 per share in its latest quarter, surpassing estimates, while quarterly revenue reached $6.51 billion.

Jones Financial Companies Lllp grew its stake in Bank Of Montreal (NYSE:BMO - Free Report) TSE: BMO by 121.7% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 17,363 shares of the bank's stock after acquiring an additional 9,530 shares during the quarter. Jones Financial Companies Lllp's holdings in Bank Of Montreal were worth $1,658,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of BMO. Brooklyn FI LLC purchased a new position in shares of Bank Of Montreal during the 4th quarter worth $214,000. Captrust Financial Advisors grew its holdings in shares of Bank Of Montreal by 177.4% during the 4th quarter. Captrust Financial Advisors now owns 8,325 shares of the bank's stock worth $808,000 after purchasing an additional 5,324 shares during the period. Focus Partners Wealth grew its holdings in shares of Bank Of Montreal by 122.7% during the 4th quarter. Focus Partners Wealth now owns 7,527 shares of the bank's stock worth $731,000 after purchasing an additional 4,147 shares during the period. Janus Henderson Group PLC grew its holdings in shares of Bank Of Montreal by 7.9% during the 4th quarter. Janus Henderson Group PLC now owns 76,763 shares of the bank's stock worth $7,445,000 after purchasing an additional 5,600 shares during the period. Finally, NorthRock Partners LLC purchased a new position in shares of Bank Of Montreal during the 4th quarter worth $1,741,000. 45.82% of the stock is currently owned by hedge funds and other institutional investors.

Bank Of Montreal Stock Performance

Shares of BMO opened at $126.76 on Friday. The stock has a 50-day simple moving average of $115.85 and a 200-day simple moving average of $105.67. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.00 and a current ratio of 1.00. The stock has a market capitalization of $90.81 billion, a PE ratio of 15.52, a PEG ratio of 1.29 and a beta of 1.04. Bank Of Montreal has a 1 year low of $84.05 and a 1 year high of $127.37.

Bank Of Montreal (NYSE:BMO - Get Free Report) TSE: BMO last announced its quarterly earnings data on Tuesday, August 26th. The bank reported $2.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.12 by $0.21. The business had revenue of $6.51 billion during the quarter, compared to analysts' expectations of $8.84 billion. Bank Of Montreal had a return on equity of 10.57% and a net margin of 11.00%.The business's quarterly revenue was up 9.7% compared to the same quarter last year. During the same quarter last year, the business posted $2.64 EPS. On average, analysts predict that Bank Of Montreal will post 7.71 earnings per share for the current fiscal year.

Bank Of Montreal Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 26th. Stockholders of record on Thursday, October 30th will be paid a $1.63 dividend. This represents a $6.52 annualized dividend and a dividend yield of 5.1%. The ex-dividend date is Thursday, October 30th. This is a boost from Bank Of Montreal's previous quarterly dividend of $1.18. Bank Of Montreal's dividend payout ratio (DPR) is 58.63%.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on BMO. CIBC upgraded Bank Of Montreal from a "neutral" rating to a "sector outperform" rating in a report on Friday, September 5th. Barclays cut Bank Of Montreal from an "overweight" rating to an "equal weight" rating in a report on Monday, June 9th. National Bankshares restated an "outperform" rating on shares of Bank Of Montreal in a report on Friday, August 15th. Cibc World Mkts upgraded Bank Of Montreal from a "hold" rating to a "strong-buy" rating in a report on Friday, September 5th. Finally, Scotiabank restated a "sector perform" rating on shares of Bank Of Montreal in a report on Wednesday, August 27th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, Bank Of Montreal presently has a consensus rating of "Moderate Buy" and an average target price of $168.00.

Bank Of Montreal Company Profile

Bank of Montreal provides diversified financial services primarily in North America. It operates through Canadian P&C, U.S P&C, BMO Wealth Management, and BMO Capital Markets segments. The company's personal banking products and services include deposits, mortgages, home lending, consumer credit, small business lending, credit cards, cash management, financial and investment advice, and other banking services; and commercial banking products and services comprise various of financing options and treasury and payment solutions, as well as risk management products.

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